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R.G. Barry is redoubling its efforts to transform itself from a slipper company to an
accessories business, the company said yesterday as it announced earnings for its fourth quarter
and fiscal year.

And growth through acquisitions is the method it will continue to employ.“There is nothing that
will help us reach the $200 million-plus (revenue) level more quickly than completing a truly
meaningful acquisition, and we continue to be active players in the market,” said Greg Tunney,
president and CEO, during a conference call with analysts.

To add impetus to that effort, Gary L. Sandefur has been promoted to vice president of mergers
and acquisitions, Tunney said. Sandefur previously was corporate controller.

As the economy began to recover, R.G. Barry, the parent of Dearfoams slippers brand, began
broadening its reach, buying Baggallini handbags and Foot Petals insoles within months of each
other in 2011.

Since those acquisitions, however, R.G. Barry has moved slowly in the area.

In April, the company announced a comparatively small, $1.2 million deal in which it would
combine the operations of its China-based sourcing agent into its Baggallini handbag unit, as well
as buy the assets of Hong Kong-based Mosey Co. and its Mosey fashion-handbag brand.

That deal pales in comparison to R.G. Barry’s objectives.

“We’re looking at acquiring a $50 million, $100 million, even $150 million business,” Tunney
said. “For whatever reason, we weren’t able to get those deals done.”

To further help the effort, “We will be looking at additional business categories that align
with our accessory universe such as e-commerce ... and we’ll also be looking at companies in select
international markets,” he said.The company’s efforts come at a good time, said Anil K. Makhija,
senior associate dean at Ohio State’s Fisher College of Business.As in other areas of the economy,
the recession put companies trying to expand by mergers or acquisitions “into a period where
investment has been stalled,” Makhija said. “As the economy recovers, it’s a good opportunity for
firms to assess what the investment opportunities are.”